Block of 6 studio apartments all let producing £30,588 pa

Block of six studio apartments all let producing £30,588pa This lot comprises of a block of six studio apartments. Currently they are all let on Assured Shorthold Tenancies to established tenants and produce an income of £2,549 pcm (£30,588pa). The block is located next to the recreation ground in a good letting area of the town, close to a range of services and amenities. The block has been well maintained by the current owners. All the apartments are double glazed, have been redecorated periodically and enjoy bright airy communal areas. Carpets, curtains and white goods are included in the sale. Wymondham is an attractive market town located seven miles south west of Norwich. It offers excellent transport links via the A11 dual carriageway and railway station. With a yield of 8%, this offers a unique opportunity for an investor looking for a high yielding secure long-term income.

Tenure

Leasehold. 86 years remaining. Ground rent £60 per apartment, pa.

Description

Each apartment has similar room dimensions and comprises: Accommodation: Reception room/bedroom, kitchen, dressing room, shower room. Outside: Communal gardens to three sides which are laid to lawn and off-road parking for each apartment.

Viewing

Open days

Energy Efficiency Rating (EPC)

Current Rating C F

Services

Interested parties are requested to make their own enquiries to the relevant authorities as to the availability of services.

Local Authority

South Norfolk Council. Tel: 01508 533633

Solicitors

Birketts, Kingfisher House , 1 Gilders Way, Norwich, Norfolk NR3 1UB, Ref: Ms M Starkings, Tel: (01603) 756493

Additional Fees

Administration Charge - 0.3% inc VAT of the purchase price, subject to a minimum of £1,200 (£1,000+ VAT), payable on exchange of contracts.

Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.